Commentary

Richard Repetto
Traders Magazine Online News

Why Do Exchanges Own Multiple Licenses? It's Not Hard To See, Look at the SEC

In this recent research note, Sandler O'Neill + Partners, L.P. Principal Richard Repetto examines why the public exchange operators hold multiple licenses and that rationale behind this phenomenon.

Traders Poll

As Bitcoin turns 10 year old this month, why are you not trading it or other crypto currencies?

I am trading it/them.

19%

Too volatile

38%

Issues surrounding custody and clearing

35%

Not enough block liquidity

8%

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Officers and Directors

Officers and Directors



Front Row: Rich DeNardi, Director, Ferris Baker Watts; Karen Regan, Director, T. Rowe Price Assoc., both Baltimore; Dawn Edwards, Secretary, DuPont Capital Mgmt., Willimgton; Linda Ludeke, Foundation President, Daveport, Richmond; Katie Ryan, Director, Scott & Stringfellow, Washington D.C.; Chip Bailey, President, Mercantile Safe Deposit & Trust, Baltimore; Back Row: Chris Wasson, Vice President, Legg Mason; Peter Hastings, Director, Wachovia Securities; Rob Stonesifer, Treasurer, Adams Express, all Baltimore; Julian Flores, Past President, Friedman Billings Ramsey, Arlington; Mike Currey, VP STA Foundation, Kooce Securities, Washington D.C.; Chris Baker, Director, PSERS, Harrisburg.


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